The Phaserl


French Toast: Gay Paree Bids the Dollar Adieu

by Jason Simpkins, Outsider Club:

Everyone knows China, Russia and other emerging economies are ditching the dollar.

But now, even France is pulling away from the greenback.

They’re not even trying to hide it, either.

With domestic considerations growing restless, French foreign minister Michel Sapin put it bluntly at a recent economic conference:

“We [Europeans] are selling to ourselves in dollars, for instance when we sell planes. Is that necessary? I don’t think so. I think a rebalancing is possible and necessary, not just regarding the euro but also for the big currencies of the emerging countries, which account for more and more of global trade.”

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